The Global Industrial Wearables Market was worth US$ 4.71 billion in 2023 and is anticipated to reach a valuation of US$ 208 billion by 2032 from US$ 7.17 billion in 2024, and it is predicted to register a CAGR of 52.33% during the forecast period 2024-2032.
In industries like manufacturing, logistics, mining, and aerospace and defence, industrial wearable devices are designed to boost working productivity, safety, and efficiency. Industrial wearables are devices that may be easily attached to the flesh and supply real-time information or tracking. These wearables include a spread of sensors, controllers, and monitoring platforms that track and save data within the cloud.
Wearable gadgets are utilised for a range of reasons, including preserving fitness and health and boosting athletic performance. Wearables have thus become popular among the commercial workers since they combine data from multiple activities and technologies into one small gadget. the amount of such gadgets is projected to rise within the future as cellular communication and data transmission improves day by day, and these wearables also can be connected to mobile devices.
Furthermore, businesses within the manufacturing industry are using AR and VR technology in training domains like knowledge transfer for front-line workers, which is propelling the commercial wearables market forward. apart from that, the market is driven by automation in manufacturing facilities and enhancements in technologies like IoT, AI, and cloud. Investments in automation, the event of latest and innovative products, and also the rise of wearable devices, on the opposite hand, give new avenues for the business.
The increasing popularity of wearable devices could be a major factor driving market growth. These devices provide unique ways to complete regular activities, from checking messages to tracking physical activity. Increased adoption of those devices within the industrial sector will fuel the marketplace for industrial wearables. Increased need for workplace safety, furthermore as a rise within the use of business wearables within the industry. because of rapid technological breakthroughs and a renewed concentrate on innovation and miniaturisation, businesses across industries are trying to further consumerism IT by turning their focus off from mobile phones and tablets and toward wearable gadgets. Wearable technology adds a brand new layer of safety to the automotive industry by allowing drivers to observe important health factors and take action within the event of an emergency, also as delivering immediate and visceral notice and knowledge instead of counting on warning lights or chimes.
Furthermore, the recent COVID-19 pandemic has had a substantial impact on industrial activity and is expected to negatively impact market growth in the coming years. As a result, the industrial wearable market is expected to increase at a moderate annual pace year over year in the next years as sectors try to recover from the unanticipated consequences of the pandemic.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2032 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2032 |
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CAGR |
52.33% |
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Segments Covered |
By Device Type, Component, End-User Industry, and Region. |
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Various Analyses Covered |
Global, Regional, and country-level analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Alphabet Inc., DAQRI LLC, EUROTECH Spa, Fujitsu Ltd., Generalscan Electronics Co. Ltd., Honeywell International Inc., Lenovo Group Ltd., Magic Leap Inc., Microsoft Corp., OM Digital Solutions Corp., and Others. |
AR Glasses Segment is expected to witness the highest CAGR growth in the Global Industrial Wearables Market During the Forecast Period. AR glasses are becoming increasingly popular in the automobile, aerospace, and other manufacturing industries. Because AR glasses enable experts or supervisors to provide real-time remote help to workers, it becomes a great solution for industries to raise productivity, decrease downtime, ensure quality, and improve customer happiness. This wearable also improves the technician's training programme by providing additional professional support. AR glasses are predicted to rise rapidly in the next years as a result of these benefits for various industries.
Processors Segment is expected to have the prominent share in the Global Industrial Wearables Market During the Forecast Period. For all technicians, having process information on a wearable device provides unrivalled benefits. WIIOT (Wearable Industrial Internet of Things) is a rapidly evolving field that will witness numerous advancements in the coming years. The high-speed data networks that present in industrial premises contexts provide an environment where wearable IIoT can thrive. The capacity to interact with a variety of sensor data is critical for wearable data-based devices. How data is collected and then used to make practical decisions is an important aspect of how wearable technologies will evolve across industries.
Automotive Segment is expected to have the dominant share in the Global Industrial Wearables Market During the Forecast Period. Component assembly is a time-consuming job that needs the operator to follow various instructions in the Automobile industry. AR devices aid the operator by displaying important instructions and standard operating procedures. This improves production while reducing the danger of defects. Wearables save time and money in the manufacturing process, as well as assuring optimal production planning, accurate production, and quality improvement and assurance. As a result of these factors, the automotive industry is expected to see an increase in demand for industrial wearables.
North America is expected to have the dominant share in the Global Industrial Wearables Market During the Forecast Period. This region's market is projected to be driven by the presence of key industrial wearables industry competitors. Players are focusing on developing various forms of wearables, including AR glasses and VR headsets, to fulfil the needs of diverse end-user sectors. Because North American companies were among the first to adopt digitalization and connected technologies to boost efficiency, the area is likely to see significant market expansion. In North America, the automotive industry is focusing on integrating AR glasses to automate car model setup, configuration, calibration, and quality checks, which will boost the industrial wearables market significantly over the forecast period.
Asia-Pacific is expected to witness the highest CAGR growth in the Global Industrial Wearables Market During the Forecast Period. Due to factors such as government initiatives such as Made in China 2026, which promote the adoption of industrial IoT and smart manufacturing technologies, government aid for the adoption of advanced communications technologies such as 5G, and the use of AR glasses and other wearables in automotive and other critical applications, Asia Pacific is expected to be one of the fastest-growing markets for industrial wearable devices. The growing investment in AR technology by Chinese companies is expected to enhance the Asia Pacific industrial wearable devices industry.
Frequently Asked Questions
High demand for effective communication and a collaborative working environment, increased interest among businesses in using AR technology, particularly in the production area, and VR technology, particularly in the training domain, as well as technological advancements and automation in manufacturing plants, are expected to boost the use of wearables in industries.
Some of the leading manufacturers of industrial wearables include Microsoft, Google, Epson, Vuzix, and Magic Leap.
Because of the existence of significant providers of industrial wearables, North America is likely to have the biggest market share in terms of both value and volume.
Automotive, manufacturing, and oil and gas are just a few of the key industries that use wearables. The automotive industry is likely to lead the market for industrial wearables.
Industry 4.0's emphasis on interconnection, automation, and real-time data has fuelled the market for industrial wearables. In addition, the necessity for better inventory and warehouse management has led to the adoption of various wearables by various businesses.
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